StoneCo Ltd. (NASDAQ:STNE) Receives $16.89 Average PT from Brokerages

Shares of StoneCo Ltd. (NASDAQ:STNE) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.89.

STNE has been the subject of several recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Susquehanna decreased their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. UBS Group increased their price target on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays reduced their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Finally, Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd.

StoneCo Stock Down 1.8 %

StoneCo stock opened at $10.70 on Friday. The firm has a 50 day simple moving average of $11.02 and a 200 day simple moving average of $12.41. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo has a 1-year low of $9.06 and a 1-year high of $19.46. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 8.38, a P/E/G ratio of 0.36 and a beta of 2.29.

Hedge Funds Weigh In On StoneCo

Several institutional investors and hedge funds have recently bought and sold shares of STNE. Lazard Asset Management LLC purchased a new stake in shares of StoneCo during the first quarter valued at approximately $41,000. Central Bank & Trust Co. bought a new stake in StoneCo in the 2nd quarter worth $40,000. Y.D. More Investments Ltd increased its position in shares of StoneCo by 90.2% in the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after acquiring an additional 2,275 shares during the period. Invst LLC bought a new position in shares of StoneCo during the first quarter valued at about $172,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of StoneCo during the third quarter valued at about $125,000. 73.19% of the stock is currently owned by institutional investors.

StoneCo Company Profile

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.